Freeman Mun. Airport Ord 1 AAB 1

Ordinance No. 1
Airport Authority Bill No. 1
(2008)

"An ordinance to sell real estate owned by the Seymour Municipal Airport Authority, as successor in interest to the Seymour Aviation Commission, to Stewart's LP Gas."

Whereas, I.C. 8-22-3-35 provides that the Seymour Municipal Airport Authority Board may determine to sell part or all of the aviation related real estate owned by the Authority; and

Whereas, The Board of the Seymour Municipal Aviation Authority has now determined that it is in the best interest of the Authority to sell real estate to Stewart's LP Gas for the expansion of its facility.

Now, Be It Ordained By The Seymour Municipal Airport Authority Of The City of Seymour, Indiana;

Section 1: The Authority may sell real estate owned by the Seymour Municipal Aviation Authority, more fully described in Exhibit "A" to this ordinance, to Stewart's LP Gas for the expansion of its facility.

Section 2: The Authority has obtained two (2) independent appraisals of the real estate and may only sell the subject real estate for no less than the average of the appraisals;

Section 3: It is in the best interest of the Authority to enter into a purchase agreement with Stewart's LP Gas for the expansion of its facility;

Section 4: All prior ordinance or parts thereof inconsistent with any provision of this ordinance are hereby repealed;

Section 5: This ordinance shall be in full force and effect after publication, passage and approval and final approval by the Federal Aviation Administration and the Indiana Department of Local Government Finance.

Adopted by the Seymour Municipal Airport Authority, and Approved by me, as President, this  day of May 2008, at   o'clock p.m.

Phillip R. Zickler, President

Seymour Municipal Airport Authority

City of Seymour, Indiana

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